Allen, 39, would join James after playing alongside him with the Miami Heat last season. He could provide a steady veteran presence for young players Kyrie Irving and Andrew Wiggins. That is, if Wiggins stays in Cleveland. He is frequently mentioned in trade rumors in which he could be sent to the Minnesota Timberwolves for Kevin Love.

A 10-time All-Star, Allen was to have an MRI exam on his knees Thursday to determine if he can still continue to play. Should he join the Cavaliers, he would provide an outside shooting threat. He hit 44 percent of his shots from the field last season.